Ford has detailed its near-future plan to replace 75 per cent of the blue oval’s current line-up and introduce a raft of hybrid and electric vehicles over the next four years.

Included in that wave of electrification is the popular Mustang sports car that will introduce a hybrid model by 2020.

Already in development, Ford says its iconic coupe and convertible will “be all about delivering V8-like performance with more low-end torque,” suggesting the electrified model will be a modified version of the current 2.3-litre EcoBoost with augmented electric power.

Available here with V8 and four-cylinder drivetrains it is the highest selling sports car in the country according to the latest Vfacts report. Mustang has been a surprise hit on Australian shores and is also the second-largest volume Ford Mustang market globally behind the US.

Australia’s appetite for the pony puts Ford’s local arm in a strong position when it comes to product selection, including the special Bullitt edition that will makes it way here, as well as the possibility of a hybrid Mustang according to company spokesperson Damion Smy.

“Mustang also resonates strongly with Australian customers,” he told Drive.

“We’ll continue to bring the best possible line-up to our showrooms, with the ability to bring advancements and technology from Ford’s global portfolio to our market.”

It’s not the first time Mustang has made a seismic shift in powertrain selection, moving to four-cylinders in the 1970s when the energy crisis brought about stringent emissions and fuel regulations that also gave smaller-engined Japanese rivals a more level playing field.

But it’s a move Ford says it has to make.

“Being frozen in the past is a death sentence in this business,” said CEO Jim Hackett said.

Ford also plans to keep its V8 going strong, recently increasing output to 339kW and 556Nm from the 5.0-litre bent eight, and teasing its upcoming Shelby GT500 that will be the most powerful street-legal Mustang ever.